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Key gauges turn positive as RBI cuts repo rate by 50 bps
Jun-06-2025

Indian equity benchmarks erased initial losses and turned positive in morning deals, after the RBI cut repo rate by a higher-than-expected 50 basis points (bps) to prop up growth, which has slowed to a four-year low of 6.5 per cent in FY25. Following the rate cut, the key policy rate eased to a three-year low of 5.5 per cent, providing relief to home, auto and corporate loans borrowers. Some support also came as Commerce and Industry Minister Piyush Goyal held three meetings within a short span of 35 days with the European Commissioner for Trade Maros Sefcovic with an aim to give an impetus to the reposed negotiations for a free trade agreement (FTA). Traders overlooked exchange data showed foreign institutional investors (FIIs) sold equities worth Rs 208.47 crore on a net basis on Thursday. On the global front, Asian markets are trading mixed as traders remained cautious ahead of the U.S. Labour Department's closely watched monthly jobs report due later in the day.

The BSE Sensex is currently trading at 81757.04, up by 315.00 points or 0.39% after trading in a range of 81140.11 and 81779.64. There were 23 stocks advancing against 7 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index rose 0.31%, while Small cap index was up by 0.42%.

The top gaining sectoral indices on the BSE were Realty up by 2.00%, Auto up by 0.87%, Bankex up by 0.72%, Consumer Disc up by 0.68% and Utilities up by 0.62%, while Capital Goods down by 0.20%, IT down by 0.09%, TECK down by 0.07%, Industrials down by 0.01% and Healthcare down by 0.01% were the top losing indices on BSE.

The top gainers on the Sensex were Bajaj Finance up by 2.61%, Axis Bank up by 1.75%, Maruti Suzuki up by 1.73%, SBI up by 0.92% and Kotak Mahindra Bank up by 0.90%. On the flip side, Tata Steel down by 1.36%, Sun Pharma down by 0.60%, Bharat Electronics down by 0.51%, Infosys down by 0.47% and HCL Technologies down by 0.31% were the top losers.

Meanwhile, Union Minister Sarbananda Sonowal has said that India has committed $20 billion for infrastructure development, with a focus on enhancing multimodal logistics, port connectivity and trade facilitation. Sonowal highlighted India's growing maritime capabilities, including favourable policy induced investment environment, proven shipbuilding strength, and innovative financing plans to accelerate sectoral growth.

He also highlighted strengthening of maritime connectivity and supply chains with strategic corridors like India - Middle East - Europe Economic Corridor (IMEEC), the Eastern Maritime Corridor (EMC), and the International North - South Transport Corridor (INSTC).

He added ‘Through policy incentives, ease of doing business, and infrastructure enhancement, we are laying the foundation for India to emerge as one of the top five shipbuilding nations by 2047.’ Emphasising the need for a green and sustainable maritime future, he said India is establishing three Green Hydrogen Hub Ports -- Kandla, Tuticorin, and Paradip -- to support the manufacturing of green hydrogen and its derivatives and to pioneer the use of alternative fuels in the maritime domain.

The CNX Nifty is currently trading at 24860.55, up by 109.65 points or 0.44% after trading in a range of 24671.45 and 24868.60. There were 37 stocks advancing against 13 stocks declining on the index.

The top gainers on Nifty were Bajaj Finance up by 2.57%, Shriram Finance up by 2.41%, Hero MotoCorp up by 1.97%, Axis Bank up by 1.71% and Maruti Suzuki up by 1.62%. On the flip side, Tata Steel down by 1.38%, Sun Pharma down by 0.58%, Infosys down by 0.47%, Bharat Electronics down by 0.36% and Apollo Hospital down by 0.33% were the top losers.

Asian markets are trading mixed; Nikkei 225 surged 188.08 points or 0.5% to 37,742.57 and Straits Times rose 6.19 points or 0.16% to 3,923.88. On the flip side, Taiwan Weighted lost 29.73 points or 0.14% to 21,644.70, Hang Seng declined 49.88 points or 0.21% to 23,857.09 and Shanghai Composite weakened 1.99 points or 0.06% to 3,382.11. 
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